Policyholder Notices. (a) Within thirty (30) days following the receipt of all Permits from Governmental Authorities for the assumption reinsurance of the Novation Subject Contracts issued in one or more states or the District of Columbia, on behalf of the Assuming Company, the Ceding Company shall, at its own cost and expense, prepare and deliver to Policyholders of applicable Novation Subject Contracts a notice of transfer substantially in the form set forth in Exhibit 1 attached hereto (the “Policyholder Notice”) or in such other form as may be required under applicable Law and the applicable Insurance Regulator and otherwise acceptable to both the Assuming Company and the Ceding Company, which shall inform each Policyholder of the intended transfer and assumption (the “Novation”). With respect to the Variable Annuity Reinsured Contracts, the Policyholder Notices shall also include the final versions, as identified to the Ceding Company by the Assuming Company, of initial summary prospectuses (“ISPs”) and exchange offer prospectus supplements for the Novation Subject Contracts prepared by the Assuming Company at its own cost and expense and provided to the Ceding Company in such quantity and format as required for distribution by Ceding Company to the applicable Policyholders on behalf of the Assuming Company. The Policyholder Notice shall clearly identify the Assuming Company as the party making the exchange offer to the Policyholders. The content of the Policyholder Notice and method of correspondence with respect thereto shall be subject to the reasonable approval of the Assuming Company. The Ceding Company shall, at its own cost and expense, mail the Policyholder Notice to each relevant Policyholder and establish and maintain a toll-free telephone number to respond to inquiries from Policyholders and Producers related to the Novation. The Ceding Company and the Assuming Company shall agree on the content to be used in responding to inquiries from Policyholders and Producers. The Policyholder Notice shall be mailed on a date agreed upon by the Parties taking into consideration, among other things, (i) the various states’ consent requirements, (ii) the most efficient way to manage the transfer of the statutory reserves of the Ceding Company with respect to the General Account Liabilities to the Assuming Company, and (iii) the most efficient way to manage the transfer of the statutory reserves of the Ceding Company with respect to the Separate Account Liabilities to the Ass...
Policyholder Notices. Upon the request of the Reinsurer to reinsure, on an assumption basis, a Reinsured Policy pursuant to Section 2.1 hereof, and to the extent that the reinsurance of such Reinsured Policy is permitted or approval therefore has been granted under applicable laws, rules or regulations or positions of insurance regulatory authorities, the Reinsurer shall prepare, with the cooperation of the Company, a Policyholder notice (“Policyholder Notice”), certificate of assumption (“Certificate of Assumption”) and objection form (“Objection Form”), and mail them to the Policyholder of such Reinsured Policy. Subject to regulatory requirements of the various states, the Policyholder Notices, Certificates of Assumption and Objection Forms to be delivered to Policyholders pursuant to this Section 3.1 shall be substantially in the forms attached hereto as Exhibit A, B and C, respectively.
Policyholder Notices. BCBSMo shall, at its expense, provide notice of the assumption and novation of the Policies by Healthy Alliance to those Policyholders required by law or under the Policies to be notified, as well as to BCBSMo's Representatives (i.e., agents and brokers of record). Except where other language is required by a specific Regulatory Authority, the notice to such Policyholders shall be substantially in the form attached hereto as Exhibit E, and shall be mailed on or before date referenced on Exhibit E, unless otherwise agreed to, in writing, by the parties. BCBSMo shall be responsible for providing notifications to and for obtaining the approvals of any Regulatory Authority.
Policyholder Notices. Upon the request of the Reinsurer to reinsure, on an assumption basis, a Coinsured Policy pursuant to Section_2.1 hereof, and to the extent that the reinsurance of such Coinsured Policy is permitted under applicable laws, rules or regulations or stated positions of regulatory authorities, the Reinsurer shall prepare, with the cooperation of the Company, a Policyholder notice, Certificate of Assumption and objection form, and mail them to the Policyholder of such Coinsured Policy. Subject to regulatory requirements of the various states, the Policyholder notices, Certificates of Assumption and objection forms to be delivered to Policyholders pursuant to this Section 3.1 shall be substantially in the forms attached hereto as Exhibits A, B and C, respectively.
Policyholder Notices. With regard to direct xxxx policies in force, the Company shall accept the responsibility for sending to the policyholder timely notices of cancellation and nonrenewal and changes made in the insured’s policy as a result of changes in statutes, coverages, or forms, and for outlining any options available to the policyholder as a result of changes in statutes, coverages, or forms. Copies of all notices shall be sent to the Agent prior to or concurrent with mailing to the insured. The Agent should be identified as to whom to direct questions and requests for service.
